Trump criticises Powell after Fed holds Interest rates steady
US President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates un...
Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
Canada’s economy contracted by 0.2 percent in February, the first monthly decline since November, as weakness in mining, oil and gas extraction and construction offset gains elsewhere, Statistics Canada reported on Wednesday.
The goods-producing side of the economy shrank 0.6 percent, led by a 2.5 percent slide in mining, quarrying and oil and gas extraction after two months of growth. Construction fell 0.5 percent—its first drop in four months—driven largely by a 0.9 percent decline in residential building activity. Service-producing industries edged down 0.1 percent, with modest pullbacks in real-estate rental and leasing, finance and insurance, and education.
Statistics Canada said harsh winter storms in several provinces contributed to February’s weakness. Businesses also faced softer demand after earlier stocking up on supplies amid uncertainty over potential U.S. tariffs; those advance purchases have left inventories high and dampened new orders.
Analysts had expected February output to be flat, matching the agency’s advance reading. January GDP had climbed 0.4 percent.
StatCan’s early estimate points to a 0.1 percent expansion in March and annualised first-quarter growth of about 1.5 percent, though final quarterly figures—calculated from expenditure and income data—may differ slightly.
While strong consumer spending and lower interest rates lifted growth late last year, the Bank of Canada warns that 2025 could prove challenging as the economy contends with U.S. duties on steel, aluminium, autos and other goods.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Israeli Prime Minister Benjamin Netanyahu met with US President Donald Trump’s Special Envoy for the Middle East, Steve Witkoff, in a meeting held at Netanyahu’s office. Details of their discussions were not disclosed.
The United States has imposed sanctions on officials from the Palestinian Authority (PA) and members of the Palestine Liberation Organisation (PLO), accusing them of undermining peace efforts with Israel.
Germany’s Foreign Minister Johann Wadephul met with Israeli Prime Minister Benjamin Netanyahu in Jerusalem on Thursday, July 31.
A lightning strike measuring 829 kilometres observed in the United States in October 2017 has been confirmed by the World Meteorological Organization (WMO) as the longest recorded lightning event.
In a sharp policy shift, Slovenia has suspended all arms-related trade with Israel, deepening its stance on the Gaza conflict and aligning with its earlier recognition of a Palestinian state.
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